h41_19620802.pdf

F E D E R A L R E S E R V E

H.4.1

Factors Affecting Bank Reserves and Condition Statement of F.R. Banks For immediate release

August 2, 1962

The average of daily figures of total member bank reserves held during the reek ended August 1 decreased a net of $179 million to $19,824 million. Estimated currency and coin of member banks increased $11 million and their reserve balances at the Federal Reserve Banks decreased $190 million. Estimated required reserves decreased $3 million; and estimated excess reserves decreased $176 million to $400 million. Excess reserves exceeded member bank borrorings at the Federal Reserve Banks by $330 million, compared rith the revised figure of $517 million the week before.

The principal changes reducing average reserve balances with Federal Reserve Banks vere decreases of $622 million in Federal Reserve float, $101 mil­lion in gold stock, and an increase of $26 million in "other" deposits with Federal Reserve Banks. The principal offsetting changes vere an increase of $362 million in U. S. Government securities bought outright and decreases of $123 million in Treasury deposits vith Federal Reserve Banks and $90 million in currency in circulation. Total Reserve Bank credit decreased $249 million.

As of Wednesday, August 1, holdings of U. S. Government securities bought outright uere $779 million higher than a reek earlier and member bank borrovings vere $58 million higher. Outright holdings of bills, certificates, and notes, increased $713 million, $14 million, and $52 million, respectively.

Averages of daily figuresMember bank reserves, Reserve Bank credit, and related items

Week ended Aug. 1, 1962

Change from July 25, [

1962 1

week ended Aug. 2, 1961.

Wednesday, Aug. 1, 1962

Reserve Bank credit:U. S. Government securities— Bought outright— System account

(In millions of

29,592 +362

dollars)

+2,363 29,959Held under repurchase agreement -- -- - 90

Acceptances-- Bought outright 43 + 3 + 10 42Held under repurchase agreement 1 - 3 + 1 1

Discounts and advances— Member bank borrowings 70 + 11 5 179Other 15 -- + 15 15

Float 1,3^6 -622 + 265 1,084Total Reserve Bank credit 31,066 -249 +2,558 31,280

Gold stock 16,168 -101 -1,359 16,148Treasury currency outstanding 5,6o4 + 1 + 77 5,601

52,837 -350 +1,275 53,029

Currency in circulation 33,811 - 90 +1,361 33,845Treasury cash holdings 415 + 11 - 29 423Treasury deposits with F. R. Banks 428 -123 28 333Foreign deposits with F. R. Banks 234 + 13 4 25bOther deposits with F. R. Banks 3^3 + 26 + 37 3^4Other F. R. accounts (net) 643 + 2 - 326 639

35,875 AES0 +1,012 35,846Member bank reserves:

With Federal Reserve Banks 16,962 -190 + 263 17,189Currency and coin (estimated) 2,862 + 11 + 275 3,009Total reserves held 19,824 -179 + 538 20,198

Required reserves (estimated) 19,424 - 3 + 615 19,532Excess reserves (estimated) 400 -176 - 77 666

On August 1, 1962, U. S. Government securities held in custody by the Federal Reserve Banks for foreign account vere $6,039 million, a decrea.se of $363 million for the veek and an increase of $319 million from the comparable date a year ago.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 1 ( a ) CONSOLIDATED STATEMENT OE CONDITIONOF THE TWELVE FEDERAL RESERVE BANKS

(in millions of dollars)

A S S E T SGold certificate account Redemption fund for F. R« notes Total gold certificate reserves

CashDiscounts and advances Acceptances:Bought outrightHeld -under repurchase agreement

U. S. Government securities:Bought outright-- BillsCertificatesNotesBonds

Total bought outright Held under repurchase agreement

Total U. S. Government securities

Total loans and securities

Cash items in process of collection Bank premises Other assets

TOTAL ASSETSL I A B I L I T I E S

Federal Reserve notes Deposits:

Member bank reservesU. S. Treasurer--general accountForeignOther

Total depositsDeferred availability cash items Other liabilities and accrued dividends

TOTAL LIABILITIESC A P I T A L a c c o u n t s

Capital paid in """SurplusOther capital accounts

Change since

33-5$80

Aug. 1, 1962

July 25, 1962

Aug. 2,1961

14,665 - 60 -1,5601,206 -- + 16315,871 - 60 -1,397

(429) 380 - 1 - 15194 + 58 + 26

42 + 2 + 91 + 1 + 1

3,007 +713 + 6385,745 + l4 +4,023

17,341 + 52 -2,4993,866 -- + 372

29,959 +779 +2, 534-- - l44

29,959 +779 +2, 390

30,196 +84o +2, 426

(1,053) 4,8l8 -155 + 393106 - 2 5768 + 22 + 505

(1,482) 52,139 +644 +1,907

(429) 28,770 + 4-5 +1,260

17,189 +538 + 386333 -232 - 213256 + 19 + 45344 + 4l + 11

18,122 +366 + 229(1,053) 3,734 +213 + 304

66 + 5 + l4(1,482) 507692 +629 +1,867"

459 + 1 + 30888 -- + 71100 + i4 1

i(l, 482) 52,139 T m +1,907Ratio of gold certificate reserves to deposit

and F. R. note liabilities combined (com­puted from figures as shot/n on the fol­lowing pages— not consolidated)

Contingent liability on acceptances purchased for foreign correspondents

* Figures in parentheses are the eliminations made in the consolidating process^ _____see comparable figures on combined basis on following pages.____________ __

- 4.2<jo

- 63

MATURITY DISTRIBUTION OF LOANS AND SECURITIES, AUGUST 1, 1962 (Acceptances and securities held under repurchase agreement are classified as

vith maximum maturity of the agreements.)U. S. Government securities

Changes

maturing within 15 days in accordance

Discounts and advances

Within 15 days 17516 days to 90 days 1991 days to 1 year Over 1 year to 5 years Over 5 years to 10 years Over 10 years --

Total 194

Acceptances Holdings during week13 4,118 +3,69730 1, 565 -3,359

11,687 + 441- - 10,156 ---. - 2,219 --... 214 --S3 29,959 + 779“

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(h) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 1, 1962

T o t a l B o s to n N e vY o rk

P h i l a ­d e lp h ia

C le v e ­la n d

R ic h ­mond A t l a n t a C h ic a g o S t .

L o u isM in n e - a p o l i s

K ansasC i t y

D a l la sSan

F r a n ­c is c o

A S S E T S ( I n m i l l i o n s o f d o l l a r s )

G o ld c e r t i f i c a t e a c c o u n t 14,665 736 3,860 735 1,207 960 732 2,643 601 268 6l6 538 1,769R e d e m p tio n f u n d f o r F . R . n o te s 1 ,206 69 286 71 103 94 74 218 50 27 48 39 127

T o t a l g o ld c e r t i f i c a t e r e s e r v e s '15,871" 865 4,i46 806 1,310 1,054 806 2,86l 651 295 577 1,396

F . R . n o te s o f o t h e r B a n ks 429 36 107 45 21 22 50 25 14 29 15 18 47O t h e r c a s h 380 25 76 19 32 19 31 65 19 11 12 12 59

D is c o u n t s a n d a d v a n c e s 194 7 19 2 4 17 11 46 2 3 35 9 39A c c e p ta n c e s :

B o u g h t o u t r i g h t 42 -- 42 — -- -- — -- -- -- — - -

H e ld u n d e r re p u rc h a s e a gre e m e n t 1 -- l -- — -- — -- -- -- -- --U . S . G o v e rn m e n t s e c u r i t i e s :

B o u g h t o u t r i g h t —B i l l s 3,007 156 746 172 252 195 l6l 505 119 65 131 122 383C e r t i f i c a t e s 5,745 299 1,424 328 483 374 308 964 227 124 250 232 732N o te s 17,341 901 4,298 990 1,457 1,127 931 2,911 686 374 755 701 2,210B o n d s 3,866 r*i -1 958 220 325 251 208 649 153 83 168 157 493

T o t a l 29,959 1,557 7,426 1,710 2,517 1,947 I,6oEF 5,029' 1,185 646"" i ,3o4~ 1,212 3,818H e ld u n d e r re p u rc h a s e a gre e m e n t -- -- -- _ _ -- -- -- -- --

T o t a l U . S* G o ve rn m e n t s e c u r i t i e s 29,959 _i,557 7,426 1,710 2,517 1,947 1,608 5,029 1,3.85 646 1,212 3,818

T o t a l lo a n s a n d s e c u r i t i e s 30,196 1,564 7,488 1,712 2,521 1,964 1,619 5,075 1,187 649 1,339 1,221 3,857C a sh ite m s i n p r o c e s s o f

c o l l e c t i o n 5,871 429 1,138 365 489 4c4 439 915 248 175 33^ 253 682B a n k p re m is e s 106 3 9 3 8 5 i4 24 6 4 6 13 11O t h e r a s s e t s 7 68 38 198 44 68 42 42 116 28 17 33 37 105

T O T A L A S S E TS 53,621 2,900 13,162 2,994 4,449 3,510 3,001 9,c8l 2,153 1,180 2,403 2,131 6,657

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.4.1(c) STATEMENT OF CONDITION OF EACH FEDERAL RESERVE BANK ON AUGUST 1, 1962

Total Boston NewYork

Phila­delphia

Cleve­land

Rich­mond Atlanta Chicago St.

LouisMinne­apolis

KansasCity Dallas

SanFran­cisco

(In millions5 of dol]Lars)L I A B I L I T I E SFederal Reserve notes 29,199 1,740 6,744 1,831 2,572 2,367 1,683 5,326 1,241 575 1,205 867 3,048Deposits:

741 2,686 619 396 2,660Member bank reserves 17,189 661 4,779 1,289 716 860 852 930U.S. Treasurer-general, account 333 26 4 13 21 22 1 39 30 23 38 29 87Foreign 256 12 1/78 14 23 11 13 34 8 6 10 14 33Other 344 1 286 l 1 3 1 2 * * 2 * 47Total deposits 18,122 700 5,147 769 1,334 752 875 2,761 657 425 902 973 2,827

Deferred availability cash items 4,787 388 864 309 403 318 362 777 202 146 232 206 580Other liabilities and accrueddividends 66 4 16 3 6 4 4 11 3 1 ____ ____ 3 - 8TOTAL LIABILITIES 52,174 27832 12,771 2,912 4,315 3,441 2,924 8,875 2,103 1,147 2,342 2,o49 6,463

CAPITAL ACCOUNTSCapital paid in 459 22 124 26 43 21 25 65 16 11 19 26 61Surplus 888 42 243 51 83 40 47 124 31 20 37 50 120Other capital accounts 100 4 24 5 8 8 5 17 3 2 5 6 13

TOTAL LIABILITIES AND2,403 6,657.CAPITAL ACCOUNTS 53,621 2, 900 13,162 2,994 4,449 3,510 3,001 9,081 - 2,153 1,180 2.131

Contingent liability on accept­ances purchased for foreign

2/22correspondents 80 4 5 7 4 4 11 3 2 3 k 11FEDERAL RESERVE AGENTS' ACCOUNTS

F . R. notes outstanding Collateral for F . R . notes:

30,504 1 , 8o4 7,046 1,889 2,734 2,460 1,749 5,462 1,303 — m r i ,24 o 942 3,209

Gold certificate account 7,820 480 1,600 530 720 680 ^85 1 , 4co 34o 160 310 215 900Eligible paper 37 — 1 — - - — 2 — 34 -- - -U. S. Government securities 23,840 l, 390 5,600 1, 500 2,100 1,805 1, h C O 4,300 1,010 530 950 755 2, 500

Total collateral 31,697 1,870 7,200 2,031 2,820 2,485 1,885 5,700 1,352 690 1,294 970 3,400

1/ After deducting 4178 million participations of other Federal Reserve Banks.2/ After deducting $ 58 million participations of other Federal Reserve Banks. * Less than $500,000

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis